The Hellenic Republic Asset Development Fund (HRADF S.A.) has received a binding offer by the consortium International Port Investments Kavala for the sub-concession of the right to use, maintain, operate and exploit a multi-purpose terminal within the Philippos II port in Kavala, Greece.

The consortium is formed by the companies Black Summit Financial Group, EFA Group, GEK Terna. The terminal is currently operated by Kavala Port Authority S.A. - OLK S.A. The sub-concession of Philippos II port includes the existing pier with a paved area of approximately 117,000 sq. m, an additional plot of unpaved land and reclamation area of approximately 165,000 sq. m, the detached mole/breakwater, the commercial activity (general cargo, dry bulk and occasionally container vessels), and certain equipment of the port. The sub-concession period will be 40 years.

The review of the binding offer to verify that it is in line with the terms specified in the Request for Binding Offers will start soon. The Fund's Board of Directors will unseal the financial offer soon after.